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Benchmarks trade sideways; Broader market outperforms

Capital Market 

Benchmark indices traded sideways with modest gains in mid morning trade. The Nifty traded firm above the 14,700 mark and near its record high level. Barring metal and FMCG indices, all sectoral indices on the NSE traded in the green. Positive Asian markets and easing of domestic inflation boosted domestic market sentiment.

At 11:22 IST, the barometer index, the S&P BSE Sensex, was up 228.62 points or 0.39% at 58,406.82. The Nifty 50 index added 67.8 points or 0.39% at 17,423.90.

The broader market outperformed the benchmark indices. The S&P BSE Mid-Cap index was up 1.1% while the S&P BSE Small-Cap index gained 0.74%.

The market breadth, indicating the overall health of the market, was strong. On the BSE, 2021 shares rose and 965 shares fell.

A total of 161 shares were unchanged.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 225,234,746 with 4,639,112 deaths. India reported 362,207 active cases of COVID-19 infection and 443,213 deaths according to the data from the Ministry of Health and Family Welfare, Government of India.

In the last 24 hours, India recorded 25,404 new cases. Active cases accounted for 1.09% of total cases. The recovery rate currently stands at 97.58% with 37,127 recoveries in the last 24 hours taking the total recoveries to 3,24,84,159. Economy:

Consumer Price Index-based Inflation (CPI) for August 2021 came in at 5.30%, compared with 5.59% in July, as food prices cooled further, according to the data released by the National Statistical Office (NSO) on September 13.

Buzzing Index:

The Nifty Auto index gained 1.19% to 10,240.85, rising for third trading session. The auto index added 1.39% in three days.

Hero MotoCorp (up 1.98%), Eicher Motors (up 1.72%), Bajaj Auto (up 1.32%), Tata Motors (up 1.1%), Maruti Suzuki India (up 1.03%), Ashok Leyland (up 1.01%) and Mahindra & Mahindra (up 0.94%) and TVS Motor (up 0.43%) were top gainers in auto segment.

Escorts advanced 3.75% to Rs 1,430 after the company signed a Memorandum of Understanding (MoU) with IndusInd Bank in a bid to provide financial offerings to its customers. The two will work together to understand the financial needs of the customers and will jointly come up with various financial programs to enable customers invest in modern farm machinery to enhance their farm productivity and income

Global Markets:

Asian stocks were trading mixed on Tuesday as investors look ahead to the release of U. S. consumer inflation data for August.

In US, the S&P 500 closed higher on Monday, ending a five-day losing streak as investors focused on potential corporate tax hikes and upcoming economic data. The Dow Jones Industrial Average also advanced, but the Nasdaq Composite Index ended lower.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, September 14 2021. 11:24 IST
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